How to Make Money from Your Home

If you own your house, then you will have costs associated with this. There will be the mortgage to pay for many people, as well as insurance and general maintenance and decorating. You will also have other costs which anyone who is owning or renting will have to pay such as council tax and utilities. Then of course you will have the costs of looking after yourself as well such as food, clothes, travel etc. These costs will add up and a home owner may have more costs than others as well. However, it might be possible for a home owner to make some extra money from their home and this could really help them to cover those costs that they have.

Rent out a Room

Most people would immediately think about renting out a room for a lodger. This can work really well, especially if you are on your own and you would like some company. Some people would rather share with someone they know and may therefore have to wait a while to find someone they know that needs a place to rent. Of course, there are others that do not like the idea of sharing a house with someone else, they would rather ne on their own. Also, if people have a family they may not want another person around the home as well. It can depend on the way the house is set up as well. If there is a big spare room with a bathroom then the lodger will have enough space to spend a lot of time on their own or you may even have a basement where they could have all the facilities they need and live self-contained without having to share any rooms with you. It all depends on the size and lay out of your home.

Run a Bed and Breakfast

If you do not want people in your home all of the time and you like entertaining and want to earn a bit more then you could consider setting up as a bed and breakfast. Doing this will enable you to be able to be able to earn some money and you can decide when you want to take on guests. Of course, if you restrict things too much, then people may not want to come as you do not have the available slots that they need. You will have to do more, because you will have to clean sheets and rooms between guests as well as provide breakfast for them. However, if you like meeting lots of new people and want to earn extra, then this can be a good idea. You will ideally need at least one spare double room with its own bathroom though.

Rent out Attic or Garage Space

If you have spare space in your attic or garage then you could rent it out for people to use for storing things in. You will not be able to charge huge sums of money as there are self storage companies and you will need to make sure that you are cheaper than them. However, even if you cannot charge too much, you should still be able to make some money this way and if you have space that you are not using then it would seem well worth doing.

Rent out the Driveway

Some people also rent out their driveways. If they live near to a town centre or offices, then they may be able to offer parking on their drive at a lower price to the local car parks. This is usually done through a website where someone will offer their drive on a long term basis for a fee. You will need to make sure that you are never parked on the drive during the time that they are allowed to park there. If you work and use your car, then it is likely that the drive will be available in the day, however, if you take holiday form work, you will still to move the car so that they can park there.


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